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Recent Developments and Future Prospects in the Oil Market

The headlines have been dominated by escalating tensions and conflicts in key oil-producing regions, particularly the Middle East and the ongoing war between Russia and Ukraine. These geopolitical uncertainties have kept traders on edge, with concerns about potential disruptions to oil supply driving prices higher. Major events like these often serve as catalysts for price spikes, reminding us of the delicate balance between geopolitical stability and oil market dynamics.       Figure 1 - Berkut oil rig   Recent Price Movements:   Amidst the turmoil, the price of Brent crude experienced a notable decline, starting the week at USD 91 per barrel and dipping to lows of USD 87 per barrel by the end of the period. This decrease can be attributed to investors shifting their focus towards sluggish global demand and economic uncertainties rather than solely reacting to geopolitical tensions.   Expert Insights:   According to Tim Waiter, chief market analyst at...